On Wednesday, Judge Failla from the Southern District Court of New York denied Coinbase’s motion to dismiss the Securities and Exchange Commission’s (SEC) case against the exchange. The SEC accuses Coinbase of operating as an unregistered exchange, broker, clearing agency, and alleges that its Staking Program engages in the unregistered offer and sale of securities. […]
In a joint effort, Republican lawmakers led by House Financial Services Committee Chair Patrick McHenry and House Agriculture Committee Chair Glenn Thompson have called upon Securities and Exchange Commission (SEC) Chair Gary Gensler to provide further clarification on the agency’s stance regarding the custody of Ethereum (ETH) by Prometheum. The lawmakers, including Representatives French Hill, […]
In the late hours of Tuesday, the crypto community saw another exploit. Munchables, the Ethereum Layer-2 NFT gaming platform, reported being compromised on an X post. The crypto heist, which momentarily stole over $62 million, took a shocking turn of events after the attacker’s identity opened a Pandora’s box. Related Reading: Crypto Hacks Total Value […]
A recent development highlights the ongoing interagency drama between the US Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC): the classification of major cryptocurrencies has become a focal point of contention. Once again, the CFTC has affirmed its position that Ethereum (ETH) and several other cryptocurrencies should be classified as commodities, […]
The post VET Price Eyes 100% Spike Soon Fueled by Notable Adoption of VeChain Products appeared first on Coinpedia Fintech News
VeChain (VET) price has confirmed a bullish trend through higher highs and higher lows. The VeChain network has several products to help streamline the global supply chain for all enterprises. The latest VeChain product is geared towards real-world assets (RWA) tokenization. VeChain (VET), a veteran layer one (L1) blockchain geared towards the democratization of smart …
In a highly anticipated judgment with significant implications for the crypto industry’s legal battles against regulators in the United States, the court overseeing the Coinbase and US Securities and Exchange Commission (SEC) legal battle has delivered a ruling. The court found against the crypto firm, supporting the SEC’s claims that the platform operated as an […]
The post Blockchain Billionaires: Here’s The List of Top Richest Crypto Founders appeared first on Coinpedia Fintech News
Cryptocurrencies have created a new wave of crypto billionaires and millionaires. Mostly, these are the crypto founders associated with some renowned names in the current crypto scenario. A bunch of few individuals have become an integral part of the crypto space since its launch. The latest crypto bull run, with the Bitcoin price above $70,000 …
The US Department of the Treasury’s Office of Foreign Assets Control (OFAC) announced a new round of sanctions on crypto-related companies linked to Russia. The measure is part of the US government’s efforts to combat OFAC-designated entities from evading sanctions through virtual asset services. Related Reading: Rumors Swirl As North Korea’s ETH Transfer To BlackRock […]
Financial services giant Mastercard has given a significant nod to Ripple, a crypto-focused company, in a recent report exploring the future of remittances in Latin America. The report highlights the challenges of traditional remittance services and recognizes Ripple’s blockchain technology as a potential solution. Related Reading: Battle Of Titans: Bitcoin Leads S&P 500, Michael Saylor […]
In a significant development, federal prosecutors in the United States have charged cryptocurrency exchange KuCoin and two of its founders with violating anti-money laundering (AML) laws. Founders Face DOJ Charges The US Department of Justice (DOJ) unsealed an indictment against KuCoin and its founders, Chun Gan (also known as “Michael”) and Ke Tang (also known […]
In a rather shocking development, the United States Securities and Exchange Commission (SEC) has demanded a $2 billion sanction against Ripple. Responding to the startling demands, Ripple’s Chief Executive Officer (CEO), Brad Garlinghouse has taken a firm stance against the agency’s demands, determined to expose the true nature of the SEC. Ripple CEO Criticizes SEC’s Demands Stuart Alderoty, the Chief Legal Officer (CLO) of Ripple recently disclosed in a post on X (formerly Twitter) that the US SEC has petitioned a Judge for $2 billion in fines and penalties against Ripple. According to the Ripple CLO, the SEC is in a relentless pursuit to “punish and intimidate Ripple,” rather than faithfully applying the law. Related Reading: Bitcoin To $50,000 Or $80,000? Crypto Expert Predicts Where Price Is Headed Next Challenging the SEC’s $2 billion penalty, Garlinghouse emphasized that the agency has consistently operated beyond the bounds of law in various enforcement actions. He disclosed that Judges have also taken note of the SEC’s actions, previously admonishing the agency for its extensive abuse of power entrusted to it by Congress. The Ripple CEO also criticized the SEC’s penalty demand, arguing that it lacks precedent and justification, particularly given the absence of any allegations, findings of fraud or recklessness in the case. As a result, Garlinghouse has vowed to expose the SEC for its conduct, emphasizing that Ripple will vigorously respond to the SEC’s action. Notably, Alderoty has disclosed that the company’s legal team will be addressing the SEC’s demands in a filing scheduled for next month. Offering his perspective on the SEC, the Ripple CLO characterized the agency as one “that trades in statements that are false, mischaracterized and designed to mislead.” SEC Actions Hurt XRP Holders The Most In its lawsuit against Ripple, the US SEC accused the payment company of violating securities laws by selling XRP in unregistered securities offering to investors in the US. According to the agency, the company and its executives had allegedly failed to protect its investors, depriving them of adequate disclosures of XRP. However, members of the Ripple community argue that the SEC’s enforcement actions against Ripple have not protected investors but caused even deeper challenges and financial losses for XRP holders. Related Reading: Bitcoin Whales Remove A Staggering $2.3 Billion From Exchanges, Is It Time To Buy? A popular XRP enthusiast, identified as XRPCryptoWolf has asserted that it should be the SEC, not Ripple, paying billions to XRP holders. “The SEC asking for $2 billion in fines and penalties is ridiculous when they’re the ones who financially hurt XRP holders the most. The SEC owes XRP holders tens of billions of dollars,” he stated. The XRP community member disclosed that after the SEC announced its lawsuit against Ripple, approximately $15 billion was wiped out from XRP’s market capitalization, and the token was also delisted from major exchanges. As a result of the lawsuit’s significant impact on XRP’s value, millions of XRP holders experienced financial losses. XRP price at $0.644 | Source: XRPUSDT on Tradingview.com Featured image from Inside Bitcoins, chart from Tradingview.com
Last week, the crypto investment landscape witnessed a significant exodus of capital from global crypto funds. A recent report from CoinShares highlighted nearly $1 billion net outflow from these funds, marking a historic departure from a 7-week inflow streak that had cumulatively amassed $12.3 billion. A Closer Look At The Outflows The magnitude of these […]
There are a couple of events to watch out for this week, as they could prove pivotal in determining the future trajectory of the crypto market. These events could provide some certainty to the market or cause investors to wait on the sidelines for more favorable market conditions. Events That Could Affect The Market This Week Some Federal Reserve officials are scheduled to speak at different events this week. One of them is Governor Lisa Cook, who will give a lecture on March 25. Fed Chair Jerome Powell will also participate in a discussion at the Monetary Policy Conference on March 29. Related Reading: Bitcoin ETFs Bleed For One Week Straight – Can Price Recover To $73,000? Their speeches are significant as they could provide valuable insights into the current state of the economy and what to expect from the Federal Reserve regarding interest rates in its fight against inflation. Macroeconomic factors like interest rates usually impact the crypto market and partly determine the sentiments among crypto traders. The crypto market is usually bullish whenever the Federal Reserve adopts a dovish stance on whether or not to hike interest rates. Therefore, these officials sounding positive in their speeches could help boost investors’ confidence in the crypto market since they would be less worried about things on the macro side. Meanwhile, several economic data will be released this week, including the Consumer Confidence and Consumer Sentiment data and the Personal Consumption Expenditures (PCE) index. These releases offer insights into the economy’s strength and guide the Fed in deciding on future interest rate decisions. Crypto Needs A Big Win This Week Stakeholders and investors in the industry will no doubt hope that the events lined up for this week will provide a momentum boost for the crypto market. Last week was one to forget as things cooled after weeks of seeing the flagship crypto, Bitcoin, and altcoins make significant runs. This downward trend is believed to have been due to some external factors. Related Reading: Bernstein Analysts Says Bitcoin Will Reach A New ATH By Year End, Here’s The Target One of them is the net outflows that the Spot Bitcoin ETFs recorded throughout last week, with many investors taking profits from the various funds. These Bitcoin ETFs had previously seen an impressive amount of inflows into them, which positively affected Bitcoin’s price. As such, a trend of outflows was also expected to influence Bitcoin’s price, although negatively. These Spot Bitcoin ETFs will again be in the spotlight this week, with the crypto community waiting to see if the sentiments among the ETF investors will change. A sustained trend of profit-taking this week could spark another decline in the crypto market. Total market cap chart at $2.47 trillion | Source: Crypto Total Market Cap on Tradingview.com Featured image from CNBC, chart from Tradingview.com
In a thread on X (formerly Twitter), the popular crypto analyst known as cyclop (@nobrainflip) delivered a bold forecast to his substantial following of 394,000. He proclaimed, “We are close to the biggest altseason in history. Everyone will make x50-x100 on their entire portfolio. $5k portfolio will be around $250k-$500k in 2025. All you need is to buy the right lowcaps.” This assertion hinges on a strategic selection of low market capitalization cryptocurrencies, which, according to Cyclop, are poised for an exponential surge in value. Cyclop elucidates his strategy by detailing the liquidity flow typically observed during a bull market phase, a sequential process starting with Bitcoin (BTC) and cascading down to meme coins. He explains, “Here is a typical bull run liquidity flow: 1: BTC pump 2: ETH pump 3: High cap alts pump 4: Low caps pump 5: Memecoin pump.” Importantly, he highlights that high cap memecoins have already experienced their growth phase, suggesting that “lowcap/lowcap memecoins – next” are primed for significant value appreciation. Related Reading: What is Macro/Crypto Summer? Don’t Miss Out, Says Expert Within this framework, Cyclop underscores the potential for staggering returns without the necessity for professional day trading expertise. “It’s cause each coin has its maximum, and if its MC is already high, it’s not so far away. But when the market cap is almost at zero, the potential is enormous,” he advises, promoting a hands-off investment strategy focused on the ‘right’ coins. Crypto Watchlist: Top-10 Lowcap Coins Cyclop’s watchlist is a selection of ten recently launched projects with low market caps and, in his view, substantial growth potential: #1 Wolf Wif (BALLZ): A meme coin that took the Solana blockchain by storm, achieving a $75 million market cap within a day of its launch. Despite a subsequent correction, Cyclop views this as an optimal entry point, confidently stating, “I’m holding my BALLZ tight.” #2 Entangle (NGL): Positioned as a potential leading messaging infrastructure for the Web3 space, Entangle aims to enhance liquidity within the ecosystem. It offers secure, flexible, and interoperable solutions for blockchain data communication, positioning itself as a critical infrastructure for dApps and builders. #3 StarHeroes (STAR): This esports-centric, multiplayer third-person space shooter game is making waves with its dynamic and competitive gameplay. Cyclop sees this as a revolutionary blend of gaming and blockchain technology, offering intense gaming emotions and a new avenue for esports within the crypto realm. #4 Heroes of Mavia (MAVIA): A blockchain strategy game that allows players to build bases, engage in battles for cryptocurrency rewards, and form partnerships with landowners. Cyclop highlights its potential in the play-to-earn space, marking it as a standout project. #5 VoluMint (VMINT): This project introduces a decentralized, AI-driven market-making service, aiming to redefine market-making in the era of blockchain. Cyclop is bullish on its ability to unlock the potential of crypto projects, emphasizing its innovative approach. #6 SatoshiVM (SAVM): As a decentralized Bitcoin ZK Rollup Layer 2 solution, SatoshiVM bridges the gap between Bitcoin and Ethereum’s EVM, using BTC as gas. This project aims to combine the value and security of Bitcoin with the programmability of Ethereum, creating a powerful ecosystem for decentralized applications. Cyclop notes, “SAVM’s unique positioning as a bridge between BTC and EVM ecosystems presents a groundbreaking opportunity for growth.” Related Reading: STX Brushes Off Sluggish Crypto Market As It Shoots Up By 30% #7 Graphlinq Chain (GLQ): Offering a no-code interface for automating blockchain tasks, Graphlinq Chain simplifies the creation and deployment of blockchain automations. Its suite of tools, including an IDE, App, Engine, and Marketplace, is designed to make blockchain automation accessible to a wider audience. “GraphLinq Protocol demystifies blockchain automation, paving the way for innovative applications and efficiencies,” Cyclop remarks. #8 zKML (ZKML): This project addresses the pressing need for privacy in digital transactions and communications. By combining zero-knowledge proofs, homomorphic encryption, and multi-party computation (MPC), zKML offers a secure and private framework for blockchain interactions. “ZKML’s focus on privacy-enhancing technologies is timely and critical, offering a secure haven for digital transactions,” observes Cyclop. #9 Monai (MONAI): Monai stands out for its development of uncensored generative AI tools, integrated with its blockchain, Monad. It features an advanced, unrestricted Large Language Model as its flagship product, aiming to revolutionize the way we interact with AI. “Monai’s pioneering approach to generative AI within the blockchain space is a game-changer, offering unparalleled possibilities,” Cyclop asserts. #10 EMC Protocol (EMC): Dedicated to AI applications, EMC Protocol is a blockchain network that includes a computing power consensus mechanism. It aims to facilitate the execution of AI tasks within a decentralized framework, including validator, smart router, and computing power nodes. “EMC’s innovative approach to integrating AI and blockchain could redefine the landscape of decentralized applications,” Cyclop concludes. At press time, cyclop’s top pick – BALLZ – traded at $0.04231, down almost 50% from its alltime-high. Featured image from Shutterstock, chart from TradingView.com
Elon Musk, the tech magnate behind SpaceX and Tesla, has raised questions about Ethereum co-founder Vitalik Buterin’s apparent retreat from X, the platform Musk acquired in 2022 for $44 billion. The conversation was sparked by a post from “Autism Capital,” a crypto influencer with significant clout in the crypto dialogue, who lamented Buterin’s reduced engagement […]
On March 19, Trezor’s X suffered a security breach that exposed the account’s 200,000 followers to a fake crypto presale. After the alarms were raised, most crypto users stayed vigilant while the hardware wallet company regained control. Trezor’s team recently published a preliminary report addressing the concerns. The post also explained the elaborate phishing scam […]
The legal battle between the United States Securities and Exchange Commission (SEC) and Ethereum (ETH) has transformed into an intriguing case within the entire cryptocurrency landscape, with several experts predicting possible outcomes regarding the dispute. Ripple CEO Warns US SEC’s Inevitable Defeat Against Ethereum As the battle wages on, the Chief Executive Officer (CEO) of […]
In recent findings, an investigation by the United Nations has illuminated the extent to which North Korea has leveraged cyber activities such as crypto hacks to “bolster” its economy and further its weapons development programs. The report spans from 2017 to 2023 and details a series of cyberattacks targeting crypto-related firms. It highlights the approach […]
In a recent development, Seychelles-based firm OKX, one of the largest cryptocurrency exchanges in the world, has announced the shutdown of its services in India. According to recent reports, the decision comes in response to regulatory hurdles faced by the exchange in the country. Users were notified of the closure through a notice sent on […]
The Dogecoin price is witnessing a strong upswing today, recording an 16% increase as X Payments, under the aegis of Elon Musk, secured pivotal money transmitter licenses across three additional US states. This milestone, first reported via X News Daily on X, includes the acquisition of licenses in Illinois, New Mexico, and Oregon, propelling X […]
Do Kwon, the beleaguered founder of TerraForm Labs, is headed to South Korea to face charges connected to the 2022 Terra ecosystem collapse. This follows a Montenegrin appeals court rejecting his final attempt to be extradited to the United States. The decision marks the culmination of a months-long legal battle where both South Korea and […]
On Wednesday, BlackRock, the world’s largest asset manager, announced the launch of its first tokenized fund on the Ethereum blockchain, marking a significant stride in bridging the gap between traditional finance and digital assets. The BlackRock USD Institutional Digital Liquidity Fund, known as BUIDL, aims to provide qualified investors with US dollar yields through blockchain […]
The Ethereum Foundation (EF) has come under investigation by an undisclosed “state authority,”. As per a commit message on GitHub, the EF received a “voluntary inquiry” from the authority, accompanied by a confidentiality requirement. The details and scope of the investigation remain undisclosed, leading to speculation and uncertainty within the Ethereum community. However, this is […]
The scalability debate within the Solana ecosystem has reached a fever pitch, fueled by pointed discussions on X (formerly Twitter) among leading figures in the blockchain space. At the heart of the debate is the question of whether Solana, a blockchain celebrated for its high throughput and low transaction costs, can maintain its performance and […]
The massive interest in Bitcoin ETFs (Exchange-Traded Funds) has created a war between issuers to attract clients to their products. The financial giants have taken different approaches to captivate the public, and lowering the fees has been a crucial component of these strategies. Related Reading: MicroStrategy Now Holds 1% Of All Bitcoin In Existence Grayscale […]
In its most recent research newsletter, crypto research firm Kaiko alluded to an ‘Alameda Gap,’ which has been massively impacting the Bitcoin and crypto market for some time now. However, that seems to be in the past, as Kaiko stated that the gap no longer exists. What The Alameda Gap Is About According to the report, the ‘Alameda Gap’ is the gap in liquidity that existed after the collapse of the collapse of the defunct crypto exchange FTX and its sister company Alameda Research. Alameda was one of the most prominent market makers then and provided massive liquidity to the market. Related Reading: Is Ripple Behind The XRP Price Crash? Massive Selling Spree Sparks Concern Following Alameda’s collapse, this liquidity gap is said to have persisted as market makers “waited on the sidelines for sentiment and trading activity to recover.” Now, the market looks to have moved past this, as Kaiko revealed that, as of last week, the market depth has almost fully recovered and is back to its pre-FTX average. The research firm added that the Bitcoin 2% market depth is up 40% year-to-date (YTD) and briefly surpassed its pre-FTX average of $470 million. This increase is said to have been mainly due to the surge in Bitcoin’s price, which has risen faster than the market liquidity since the SEC approved the Spot Bitcoin ETFs in January. Bitcoin is up about 50% YTD and has already hit new highs since the beginning of the year, including a new all-time high (ATH) of $73,750. Meanwhile, the improvement in liquidity is also evident in the fact that the cost of trading has declined on the three major US crypto exchanges: Coinbase, Kraken, and Bitstamp. How Bitcoin Is Outperforming Gold Kaiko also highlighted in its report that the Bitcoin-to-Gold ratio, which measures both assets’ relative performance, is inching closer to its ATH, which it last hit in November 2021. Interestingly, this increase means that BTC is outperforming Gold, even though both assets have recorded ATHs these past few weeks. Related Reading: Solana Surpasses Ethereum In Major Metric Amid Surge Above $200 Furthermore, funds linked to these assets show how Bitcoin has outperformed Gold. Kaiko noted that Bitcoin ETFs have attracted $11 billion since they launched in early January. Meanwhile, the largest physically-backed Gold ETFs (SPDR Gold Shares (GLD) and iShares Gold Trust (IAU) have registered outflows during the same period. Kaiko suggested that this could mean that investors were moving towards Bitcoin as the “new global store of value.” Interestingly, the CEO of Jan3 and Bitcoiner, Samson Mow, while giving reasons why Bitcoin will hit $1 million, also mentioned that people will start demonetizing Gold and substitute it for BTC at some point. BTC price falls to $62,700 | Source: BTCUSD on Tradingview.com Featured image from Forkast News, chart from Tradingview.com
The post Breaking: Genesis Agrees To Make Settlement With SEC Over Gemini Earn With $21 Million Penalty appeared first on Coinpedia Fintech News
In a significant development in the Genesis and Gemini lawsuit by the U.S. Securities and Exchange Commission (SEC), Genesis Global Capital has decided to settle with the SEC and agreed to pay $21 million to settle the charges for violating securities laws for its role with the now-inoperative Gemini Earn program, the SEC announced Tuesday. …
The post Shiba Inu Trader Hits Jackpot with $23.5 Million Profit appeared first on Coinpedia Fintech News
An unknown whale address has realized up to $23.5 million from investing in Shiba Inu in under two months. Following this large purchase, Shiba Inu continued to trade until February 28, when the price exploded. At its peak on March 5, Shiba Inu traded as high as $0.000045, with the whale gaining substantial profits. Further, …
Over the past five days, Bitcoin (BTC), the leading cryptocurrency, has experienced a period of heightened volatility, triggering significant liquidations of leveraged positions as its price fluctuated wildly in hours. After reaching an all-time high of $73,750 on Thursday, BTC experienced a sharp decline to $64,600 on Sunday. On Monday, at the start of the […]
A popular crypto analyst, identified as CrediBull Crypto on X (formerly Twitter) has unveiled bullish projections for both Ethereum and XRP. Doubling down on his previous XRP price prediction, the analyst has further affirmed that the cryptocurrency is poised to outperform Bitcoin and Ethereum in the upcoming 2024 bull run. Related Reading: Shiba Inu Partner […]